With all of the uncertainty of life, there is at least one thing we can all be certain about — we will all die. Because death is unavoidable, it is crucial we take the time now to plan for death.
An essential part of planning for the future is to make sure you have an appropriate estate plan in place. While many believe estate planning is reserved for only the wealthy, this idea is incorrect and may leave you unprotected. Rather, an estate plan outlines how the assets of your estate, including bank accounts, investments, tangible personal property, real property, and other valuable items, are to be handled upon your passing.
An estate plan will also designate the individual who will handle your estate, also known as the personal representative, and will care for any minor children you may have, also known as a guardian and/or conservator. Because each person’s life, needs, and desires are unique, an estate plan should be tailored to suit each person’s needs. With an estate plan in place, you help ensure that your intentions for your estate come to fruition and aid in eliminating confusion for your family. Without an estate plan, distribution of your assets and care for your minor children will be left to the mercy of the state, and state law will dictate all decisions relating to your estate and minor children.
Take time now, to plan for the inevitable and schedule a free, no-obligation consultation with the estate planning lawyers at Fleming & Monroe, PLC. Mention this post to receive $200 off an estate planning package.